The previous name that had been floating around had been Hurricane, but the USPTO trademark filed earlier this month indicates that they may going in a more on the nose direction for the actual device. Or devices, per the application:

The name evokes both iPad (and EeePad) and Palm, which is really the money spot for HP going forward: a multimedia friendly tablet that leverages Palm's terrific operating system. It also allows HP to differentiate among product lines should they ever decide to resuscitate the HP Slate. [USPTO via myHPmini]